DECRYPTING

THE ECONOMY

AUSTRALIAN COMPANY TBSx3 COMPLETES BLOCKCHAIN TO ATTACH FALSIFICATION IN PRODUCTS

The Australian company TBSx3 has successfully completed a Blockchain-based project that will address the war against product counterfeiting. The company used the use of the alphabet of 44 alphanumeric security codes to deliver a verification system based on Blockchain. Some of the big names in the transportation industry also participated as DP World Australia, DB Schenker and Hamburg Sud, while KPMG advised TBSx3 at the trial. The trial included the follow-up of a bottle of wine from producer Ius. The system was developed to ensure that the final consumer receives a totally original product.

Mark Toohey, founder of TSBx3, said a global supply chain security environment that has military precision that can monitor product movements was a necessary requirement to fight fake products. He also manifest:“A mosaic of bits and pieces of security is no longer enough.”

TBSx3 is currently part of a government-backed delegation of bitcoin and blockchain startups representing Australia at the current Consensus blockchain conference in New York.

The TBSx3 team aims to bring together leading experts in marketing, consumer industry, technology and innovation, so that fake products can be eliminated, supply chains can be protected and confidence in production companies can be strengthened. It should be noted that the customers of this new development are not only companies or industries, but entire supply chains.

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and/or services. This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest.